of certification for our app security and IT security . We ' re working with Mastercard on some solutions that are quite unique for the market as well , where people ' s money is very , very safe . We can consistently communicate that to the consumer , and I think the fact that we ' ve been able to grow our deposits as much as we have shown that they really understand what we do and appreciate what we do ,” he says .
The high mobile penetration and young population of the Philippines is also an opportunity for entities like Tonik , because the next generation of spenders are keen to make use of the latest technologies . “ The average age is 24 for a Filipino . It ' s a very young population and is therefore almost entirely digitally native . The Philippines is the number one Facebook market in the world . Its average Facebook time is four hours per day per user .”
Krasnov points out that this means moving from one bank – or one technology – to another is an easy transition . In fact , they have embraced the digital banking culture . “ They ’ re very , very fed up with going to the bank branches . Traffic is horrible . It ' s very , very hot . Nobody wants to have to go to a bank branch and then spend like three hours standing in a queue . People are very